Recent news
Mongolia growth rate may fall by one-third
N. Zoljargal , Governor of Mongol Bank, has said the nation’s growth rate may slow by a third this year from a record 17 percent in 2011 as inflows of foreign investment cool. “It’s a reality check for us,” he said in an interview in Hong Kong, expressing the hope that the pace of expansion may be a “very healthy” 11 to 12 percent.
The big one in this season of awards
As the season for the MMJ awards gets into its own, it seems a good time to talk about another award -- The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, more commonly called the Nobel Prize in economics. This was established in 1968 and is not part of the original group of awards set out in the dynamite tycoon’s 1895 will.
Looking forward to the Mining Journal Awards with a look back
The first Mining Journal Awards were presented on December 24, 2010 at Monet restaurant in Central Tower. It was a glittering social event but its main importance lay in the fact that it was the first time a non-official entity -- more specifically, a magazine -- was honoring the bests in the mining sector.
Herders file complaint with IFC against World Bank aid to OT
A group of Mongolian herder households filed a complaint demanding just compensation for the impacts of Rio Tinto’s Oyu Tolgoi copper and gold mine and its associated facilities in the South Gobi desert. Despite the OT Project’s numerous problems, the World Bank’s International Finance Corporation (IFC) and Multilateral Insurance Guarantee Agency (MIGA) are considering a financing package of US$900 million in loans and up to US$1 billion in political risk insurance.
New technology to process copper without smelting
A plant is under construction in the once-thriving copper-mining area of the Northern Cape that will make use of a new low-power South African-developed technology that is able to process stranded copper ore concentrates into 98%-pure copper crystals without the need for any smelting.
Amen to those who say, “It’s not over”
Granted he said this in a metaphysical vein and was certainly not thinking of metallic ones, there is much truth even for readers of this journal in Isaac Bashevis Singer’s comment, “Our knowledge is a little island in a great ocean of non-knowledge.
BaruunTsankhi: Low-key start to high-yield project
Finally there is news from BaruunTsankhi, the biggest coalfield region in the vast TavanTolgoi deposit. A decision is yet to be taken on the choice of strategic investors to operate BaruunTsankhi, though on this depends outside perception of Mongolia’s stance on foreign investment.
Boroo Gold gets permission to resume heap leach operations
Toronto-based Centerra Gold has received regulatory approval to resume heap leach operations at its Boroo mine, where operations were suspended in June, 2009, following charges of impropriety by the Mongolian government on issues such as record keeping, land use, and operational procedures.
GOVERNMENT ACTION PROGRAMME 2012-2016
Following approval by Parliament,the new government’s manifesto for its entire term has become the formal map for the country’s direction in the coming four years. We give below an English version of the parts of it that are of interest to our specialised readership.
Peabody is invited to cooperate in developing the West Tsankhi
Erdenes Tavantolgoi , which has started to develop the Tavantolgoi’s “second” mine known as West Tsankhi , taken next step to progress its operation. The company’s sent to the Peabody Energy the proposal to cooperate in developing the West Tsankhi as a contract miner.
